Automaker stocks are retreating in a mirror image of Thursday's rally, with Stellantis, GM, and Ford underperforming the broader market as sector-wide rotation flows reverse.
Stellantis shares fell 4% on Friday as the cyclical rotation trade reversed, with no company-specific news, and the stock remains down 55% YTD.
General Motors shares fell 4% along with Stellantis as the rotation trade unwound, despite stronger recent fundamentals.
Ford shares fell 2% in the same automaker reversal, with a smaller decline than GM and Stellantis.
The Consumer Discretionary Select Sector SPDR ETF fell 0.6% as the automaker sector underperformed the benchmark.
The SPDR S&P 500 ETF Trust edged down 0.2%, reflecting a broader market weakness that was less severe than the automaker decline.
Stellantis and General Motors shares fell 4% on Friday, while Ford declined 2% as the previous day's cyclical rotation trade reversed. The selloff occurred without company-specific news, reflecting a broader category-level flow that is unwinding across the automotive sector.
The decline is attributed to the unwinding of a cyclical rotation trade that occurred on Thursday. There is no company-specific news or filing explaining the move for Stellantis, GM, or Ford.